Moody National Bank Trust Division Sells 10,285 Shares of Prologis, Inc. (NYSE:PLD)

Moody National Bank Trust Division lowered its stake in shares of Prologis, Inc. (NYSE:PLDGet Rating) by 17.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 47,094 shares of the real estate investment trust’s stock after selling 10,285 shares during the period. Prologis accounts for 0.2% of Moody National Bank Trust Division’s holdings, making the stock its 21st biggest position. Moody National Bank Trust Division’s holdings in Prologis were worth $7,605,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Atria Investments LLC grew its holdings in Prologis by 4.5% in the 3rd quarter. Atria Investments LLC now owns 52,061 shares of the real estate investment trust’s stock valued at $6,530,000 after buying an additional 2,262 shares in the last quarter. Cetera Advisor Networks LLC grew its holdings in shares of Prologis by 17.8% during the 3rd quarter. Cetera Advisor Networks LLC now owns 14,843 shares of the real estate investment trust’s stock worth $1,862,000 after purchasing an additional 2,247 shares in the last quarter. Cetera Advisors LLC grew its holdings in shares of Prologis by 28.4% during the 3rd quarter. Cetera Advisors LLC now owns 4,297 shares of the real estate investment trust’s stock worth $539,000 after purchasing an additional 951 shares in the last quarter. Cetera Investment Advisers grew its holdings in shares of Prologis by 2.1% during the 3rd quarter. Cetera Investment Advisers now owns 33,942 shares of the real estate investment trust’s stock worth $4,257,000 after purchasing an additional 694 shares in the last quarter. Finally, Phocas Financial Corp. grew its holdings in shares of Prologis by 0.7% during the 3rd quarter. Phocas Financial Corp. now owns 30,158 shares of the real estate investment trust’s stock worth $3,783,000 after purchasing an additional 217 shares in the last quarter. Institutional investors and hedge funds own 93.53% of the company’s stock.

Several equities analysts have commented on PLD shares. Evercore ISI set a $149.00 target price on Prologis in a research report on Monday. BTIG Research increased their target price on Prologis from $161.00 to $193.00 and gave the company a “buy” rating in a research report on Tuesday, April 12th. Raymond James increased their target price on Prologis from $180.00 to $190.00 and gave the company a “strong-buy” rating in a research report on Monday, April 25th. Robert W. Baird increased their target price on shares of Prologis from $152.00 to $175.00 in a research report on Wednesday, April 20th. Finally, Wells Fargo & Company dropped their price target on shares of Prologis from $184.00 to $160.00 in a research report on Monday, June 6th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $174.75.

PLD traded up $0.43 during trading on Wednesday, hitting $112.79. 11,346 shares of the company’s stock were exchanged, compared to its average volume of 5,268,862. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.48. The business’s 50 day moving average is $136.11 and its two-hundred day moving average is $148.95. Prologis, Inc. has a fifty-two week low of $106.46 and a fifty-two week high of $174.54. The stock has a market cap of $83.50 billion, a P/E ratio of 22.52, a PEG ratio of 2.19 and a beta of 0.84.

Prologis (NYSE:PLDGet Rating) last announced its earnings results on Tuesday, April 19th. The real estate investment trust reported $1.54 EPS for the quarter, beating the consensus estimate of $0.55 by $0.99. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.09 billion. Prologis had a net margin of 77.08% and a return on equity of 9.98%. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.97 earnings per share. On average, sell-side analysts forecast that Prologis, Inc. will post 5.15 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Thursday, June 16th will be given a dividend of $0.79 per share. The ex-dividend date is Wednesday, June 15th. This represents a $3.16 dividend on an annualized basis and a yield of 2.80%. Prologis’s dividend payout ratio is presently 63.33%.

In other news, Director Avid Modjtabai purchased 15,000 shares of Prologis stock in a transaction dated Friday, May 20th. The stock was purchased at an average cost of $118.65 per share, for a total transaction of $1,779,750.00. Following the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at $1,779,750. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Irving F. Lyons III sold 44,385 shares of the company’s stock in a transaction on Monday, April 25th. The stock was sold at an average price of $164.60, for a total transaction of $7,305,771.00. Following the completion of the transaction, the director now directly owns 22,431 shares in the company, valued at approximately $3,692,142.60. The disclosure for this sale can be found here. 0.70% of the stock is owned by company insiders.

About Prologis (Get Rating)

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 31, 2020, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 984 million square feet (91 million square meters) in 19 countries.

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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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